Convertible bonds were a form of financing between debt and equity. It was a bond that could be converted into a listed company's stock. It had the advantages of bonds and stocks. The investor could choose to convert or hold the Convertible Bond according to market conditions. One of the advantages of a convertible-bond was that it avoided valuing the company, especially for start-ups, which could avoid the risk of shares being diluted. Convertible bonds were relatively flexible. They could be bought and sold on the same day, and there was no limit on the price. Convertible bonds could also enjoy the benefits of stocks and the security of bonds. The maturity yield of some of the Convertible Bond had already exceeded the market interest rate. Although there was no hope of converting these Convertible Bond shares into shares, the terms of the sale that were nearing maturity could also bring higher fixed income to investors. In general, the Convertible Bond was a valuable investment tool.
Titan Convertible Bond was a Convertible Bond for the Machinery Equipment, Special Equipment, and Clothing Equipment industry, issued by Titan. According to the data provided, the conversion premium rate of Titan Convertible Bond was 205.19%. On February 23, Titan Convertible Bond closed down 2.93% at 191.381 yuan per piece. According to the analysis of an article, Titan Convertible Bond was considered an excellent convertible-bond stock, with an estimated first-day profit of about 500 yuan. However, there was also the risk of Titan's debt being hyped up. Other than that, he did not provide any more information about Titan's debt.
Phoenix 21 Convertible Bond (113623) was a Convertible Bond issued by New Phoenix Group Co., Ltd. According to the regulations of the Shanghai stock exchange, Feng 21 Convertible Bond was listed and traded on the Shanghai stock exchange on May 7,2021 with the bond code of 113623. According to relevant documents, Feng 21 Convertible Bond can be converted into A shares of the company from October 14,2021, with an initial conversion price of 16.60 yuan/share. The scale of the bond issue was 2.5 billion yuan. Other than that, the search results did not provide any more information about the Phoenix 21 Convertible Bond.
Convertible bond trading techniques include the following points. First, understand the characteristics of the Convertible Bond, including the dual attributes of bonds and stocks, as well as the conversion price, conversion ratio, redemption and sale terms. Secondly, evaluate the intrinsic value and conversion value of the Convertible Bond, compare the market price, and look for potential investment opportunities. At the same time, pay close attention to the market performance of the corresponding stocks, as well as the changes in the overall stock market and interest rates, because these factors will directly affect the price fluctuations of the Convertible Bond. In addition, the investment should be reasonably dispersed to reduce risk, set clear stop loss and take profit points to manage trading risk, and ensure that the Convertible Bond in the investment portfolio has good mobility. Regularly review and adjust the investment portfolio to adapt to market changes, use professional tools to assist analysis and decision-making, and pay attention to the credit rating of the Convertible Bond and the macro economic policy environment.
Feng 21 Convertible Bond was a type of Convertible Bond with an issue scale of 2.5 billion yuan. The debt and main body rating was AA-grade. The conversion price was 16.60 yuan, and the conversion value as of April 2,2021 was 98.43 yuan. According to the latest closing price, the conversion value was 108.5 yuan, and the conversion premium rate was 38.42%. The first-day premium rate of Feng 21 Convertible Bond is expected to be around 10-15%, and the corresponding listing price is about 118-123.5 yuan. According to the analysis, the bond rating of Feng 21 Convertible Bond was average, the conversion value was average, and the current premium rate was relatively low. According to the situation of similar bonds that have been listed, it is estimated that the first day price of Feng 21 Convertible Bond will be around 115 yuan. Overall, the investment value of Feng 21 Convertible Bond was average, but it could be considered to be purchased and sold on the first day of listing.
Feng 21 Convertible Bond fell 0.57% on February 26, quoted at 114.718 yuan per piece. The conversion premium rate was 39.43%. However, these search results did not provide specific reasons or background information about the decline of Feng 21's bonds. Therefore, it was impossible to come up with a detailed explanation for the decline in Feng 21's bonds.
There were several key points in the trading rules of the Convertible Bond:
1. Price limit: According to the new regulations, there are certain limits on the price of the convertible-bond transaction. On the first day of listing, the price limit was 57.3% and-43.3%. From the next day, the price limit was 20%.
2. Trading unit: The smallest trading unit of the Convertible Bond is "lot". One lot is equal to 10 Convertible Bond.
3. Investment threshold: According to the new regulations, participating in the convertible-bond transaction needs to meet certain entry requirements. New investors needed to have "2 years of trading experience +100,000 yuan in assets."
4. Trading time and method: Convertible bond transactions follow the trading time and method of the Shanghai and Shanghai Exchanges, including collective bidding and continuous bidding.
5. Price limit: According to the implementation rules, the price of the Convertible Bond is limited to the price of every 100 yuan of the bond, and the minimum change unit is 0.001 yuan.
Please note that the above information is based on the search results provided and may not contain all the details. For more detailed or accurate information, please refer to the official release of the relevant Convertible Bond Trading Rules or consult the relevant professional institutions.